As the month ends Gold Price Made a Remarkable Increase in gold price which gives hope to many investors and gold trade authorities. Plus the current economic circumstances seems very favorable for the next round of gold price increase.
This contradicts other presumption that gold price is trending a spiral down ward trend, and that it is one of the signs of a gold bubble that is about to explode. Indeed gold proves that this allegations are wrong, that gold is capable to compete in the market and that it is still a safe haven investment.
Here is the current performance of gold in the market.
Gold Price Made a Remarkable Increase
The GOLD PRICE range today stretched from $1,546.08 to $1,629.30. It closed at $1,629.30, worth $57.90 more than when it went to bed last night. That leaves a beautiful, strong, enchanting chart behind, a bottom with a mighty surge through the downtrend line from the March high at $1,792.70 and just beneath the $1,625.36 fifty day moving average.
Much more encouraging is the way gold sliced through $1,580 and $1,600 resistance and leapt to the next ($1,625) level. Folks, this is powerful movement. Gold cannot send you a louder message that it has left its low behind it and begun the next rally. NOW is the time to buy — now. Silver shot like a meteor over at 148c range today, from 2720.7 to 2869 cents. Closed near the top of the range at 2849.7c. Once silver gapped up at 2775c, in 3-1/2 hours it reached 2869c, a straight-line rise on the chart.
Meanwhile the Euro-zone continues to crumble. Right on time about the end of year’s first half (as expected) bad unemployment news turned up to rack an already panicked stock market which had been floating on fumes, hopes, & Fed propaganda. New jobs in May grew by 69,000, lowest in year and far short of the 158,000 economists expected.
That took unemployment up for the first time in 11 months, to 8.2%. Adding woe to pain, the government revised March & April estimates down as well.
Meanwhile overseas the Euro zone is forcing another austerity treaty on the weaker members. Too little, too late. Bad unemployment data in the face of an upcoming election will send the Fed skittering to the money pumps to keep the ship from sinking.
What y’all must not miss here is that stocks & metals parted ways, decoupled, disconnected, & diverged. Markets are screaming that they now expect more inflation, by the trainload.
BEHOLD, again markets teach us a lesson: Wait. Be patient. What the chart implies the chart will fulfill, although it be delayed by time, chance, & government manipulation. The doom hanging over stocks has Ben Bernanke sweating bullets or nickels or whatever he sweats, & will panic him at last into more inflation. He knows no other, and can do no other.
For more of this article by Franklin Sanders click of here.
Though gold shows a very volatile price this past few days and gives investors a hard time, nevertheless it also shows that it is still capable of turning the tables and make things favorable for itself. As unemployment, further inflation, and a coming election investors and authorities are predicting another round of quantitative easing from the Fed.
Things seems favorable as Gold Price Made a Remarkable Increase, and as economic tension grows investors will find ways to protect their assets from rising inflation, further making gold and other precious metals as a very attractive safe haven investment.